Mason Street Advisors LLC bought a new position in Mallinckrodt PLC (NYSE:MNK) during the second quarter, Holdings Channel reports. The firm bought 14,726 shares of the company’s stock, valued at approximately $895,000.
Several other institutional investors have also recently modified their holdings of MNK. JPMorgan Chase & Co. raised its stake in Mallinckrodt PLC by 56.6% in the first quarter. JPMorgan Chase & Co. now owns 580,343 shares of the company’s stock worth $35,563,000 after buying an additional 209,824 shares during the last quarter. Sentry Investment Management LLC raised its stake in Mallinckrodt PLC by 13.3% in the first quarter. Sentry Investment Management LLC now owns 36,205 shares of the company’s stock worth $2,219,000 after buying an additional 4,247 shares during the last quarter. BlackRock Group LTD raised its stake in Mallinckrodt PLC by 1.7% in the first quarter. BlackRock Group LTD now owns 1,341,155 shares of the company’s stock worth $82,185,000 after buying an additional 22,208 shares during the last quarter. Franklin Resources Inc. raised its stake in Mallinckrodt PLC by 1.5% in the first quarter. Franklin Resources Inc. now owns 620,168 shares of the company’s stock worth $38,004,000 after buying an additional 8,974 shares during the last quarter. Finally, Algert Global LLC bought a new stake in Mallinckrodt PLC during the first quarter worth approximately $324,000. 94.74% of the stock is currently owned by institutional investors.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at 72.47 on Thursday. Mallinckrodt PLC has a 12-month low of $50.90 and a 12-month high of $85.83. The firm has a 50 day moving average price of $76.22 and a 200 day moving average price of $66.03. The stock has a market cap of $7.81 billion, a PE ratio of 13.67 and a beta of 1.52.
Mallinckrodt PLC (NYSE:MNK) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.20. The firm had revenue of $970.60 million for the quarter, compared to analyst estimates of $920.35 million. Mallinckrodt PLC had a net margin of 16.39% and a return on equity of 17.78%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 EPS. On average, equities analysts expect that Mallinckrodt PLC will post $7.67 EPS for the current year.
A number of equities research analysts recently commented on MNK shares. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $83.00 price target on shares of Mallinckrodt PLC in a research report on Friday, August 26th. Vetr raised Mallinckrodt PLC from a “hold” rating to a “buy” rating and set a $88.80 price target for the company in a research report on Monday, August 22nd. Barclays PLC reissued an “overweight” rating and issued a $88.00 price target on shares of Mallinckrodt PLC in a research report on Thursday, August 25th. Leerink Swann reissued an “outperform” rating and issued a $92.00 price target (up from $91.00) on shares of Mallinckrodt PLC in a research report on Friday, September 16th. Finally, Mizuho restated a “buy” rating and issued a $91.00 price objective on shares of Mallinckrodt PLC in a research note on Monday, August 29th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $94.54.
About Mallinckrodt PLC
Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.
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